Nexxus Iberia Private Equity Fund II closes on €241 million

Nexxus Iberia, a leading lower mid-market private equity fund manager in Spain focused on helping Iberian SMEs grow internationally, announces the First and Final Closing of its second fund, Nexxus Iberia Private Equity Fund II (“Fund 2”), at €241 million. An initial hard cap of €230 million was reached in November 2023, but investors allowed to increase it to €241 million to satisfy the very strong demand from investors. This amount significantly exceeds the size of the predecessor fund, Nexxus Iberia Private Equity Fund I (“Fund 1”), which closed on €170 million in 2020.

To date, Nexxus Iberia has raised €465 million in commitments through three investment vehicles (two “blind pool” funds and one single asset continuation fund) from institutional investors and family offices in Europe and the Americas.

"We are blessed by the strong support from investors in a very challenging environment. On this note, we would also like to thank the management teams of our investee companies for their talent and tireless efforts. This successful fundraising is also testament to the relevance of the Spanish and Portuguese SME segment, where there are still many attractive investment opportunities in companies with strong international potential " explain Maite Ballester, Pablo Gallo, and Alejandro Diazayas, co-Founders and Managing Partners of Nexxus Iberia.

Arturo Saval, co-Founder and Chairman of Nexxus Iberia, further commented: “My heartfelt congratulations to the wonderful team at Nexxus Iberia for their great work at Fund 1, and our assurance that this new fund will allow us to reward our investors for their trust and continuous support. Six years ago, Nexxus Iberia was a project. Today, Nexxus Iberia has become one of the most relevant players in the Iberian private equity market”.

With Fund 2, Nexxus Iberia will aim to partner with management teams to turn “good companies” in Iberia into “best in class” international companies by applying its pillars of value creation being professionalisation, internationalisation, digitalisation and climate action. The increase in fund 2 size should permit Nexxus Iberia to underwrite up to €35 million and with support from co-investors up €100 million.

Fund 2 will allocate at least between 15% and 20% of its size to companies with business models which have a positive impact on sustainability and climate, whilst delivering compelling returns.

Nexxus Iberia launched its first fund, Nexxus Iberia Private Equity Fund I, in 2018 with a final closing at €170 million. In 2023, Nexxus Iberia raised €54 million for OFG Continuation Fund with the support of tier-one secondary investors. Total commitments raised since inception amount to €465 million.

Since inception, Nexxus Iberia has invested in 12 companies in various sectors, both in Spain and Portugal which in turn have completed 13 add-on acquisitions through the deployment of buy & build strategies.

KWM led by Isabel Rodriguez acted as exclusive legal advisor.

Cornerstone Fund Placement led by Louis Trincano acted as exclusive fundraising advisor.

About Nexxus Iberia

Nexxus Iberia is a private equity fund manager founded in 2016 to support small and medium-sized Spanish and Portuguese companies to accelerate their growth and expand internationally in Europe, Latin America and the US. The team is led by former 3i partners and Nexxus Capital partners with more than 20 years of experience in the venture capital industry in Spain, Portugal and Mexico. The team has completed 32 investments and fully divested 22 portfolio companies in the Spanish and Portuguese mid-market.

Nexxus Iberia emerged from a partnership with Nexxus Capital, one of the largest independent alternative asset managers in Mexico, with $1.9 billion under management across 7 funds, having made more than 40 investments and more than 15 divestments, including 7 IPOs.

Nexxus Iberia raised commitments of EUR 170 million in its first fund. Since the inception of Nexxus Iberia Private Equity Fund I, Nexxus Iberia has partnered with 12 companies in various sectors in both Spain and Portugal. In addition, it has completed the sales of Maresa, Bienzobas, Dorsia, Mercurius and OFG. Nexxus Iberia also manages the OFG continuation fund FICC worth EUR 54 million.

Nexxus Iberia's vision is to continue to be the partner of reference for SME entrepreneurs in the Iberian market who are looking for a partner to support them in the international growth of their companies.

For more information about Nexxus Iberia, visit www.nexxus-iberia.com